The president and co-founder of TenX, Dr. Julian Hosp, has decided to quit the company, according to a moving video posted to YouTube after his resignation, Hosp said that while designing TenX’s artifice for the upcoming year, it “became clear to us as founders that the only way forward is to mutually part ways, and that means I will be stepping down as the president of TenX.”
TenX is a cryptocurrency platform that consists of a wallet, real debit card, bank account, ATM passage. The main benefit of TenX is that it has a 0% fee. However, one needs to pay fees for physical and virtual cards, and there are dispensing limits. To use the TenX platform, one needs to download the TenX wallet, which is available as a mobile app from the Play Store, or as desktop software from TenX.tech. The wallet currently supports BTC, LTC, and ETH; more to come in the future.
The official Twitter account of TenX tweeted:
2019 brings great opportunity for TenX. We are committed to ensuring that our vision and our mission are seen through, as per plan. As of today, Tony Hoenisch [co-founder and CEO] will be driving the business forward solely, while Julian Hosp will be leaving TenX.
What is the reason?
TenX is making a cryptocurrency combined Visa debit card and mobile wallet. The company also achieved one of the biggest ICOs ever in June 2017, building the equivalent of close to US$80 million.
Still, it has gone through many crashes since then, such as having to rebuild its token to follow the laws and suspend giving returns, much to token holders’ dismay. TenX token holders have also periodically stated on Reddit and other online forums that they have not yet received any promised debit card. The status of the card is still in progress and it will hold, send, receive, and spend Bitcoin, Ethereum and Litecoin with TenX.
Many people still believe that he resigned because of his past association in a multilevel retailing business called Lyoness. TenX recognized Hosp’s association with Lyoness – which had reportedly been identified as a crooked design by courts in Austria and Switzerland – but said it had no significance or importance to the company.
Disclaimer: This information should not be interpreted as an endorsement of any cryptocurrency. It is not a recommendation to trade. The crypto market is full of surprises and overhyped assets. Do your research before buying anything. Do not invest more than you can afford to lose.